Achieve 30% daily limit! The first batch of rental housing REITs went public yesterday
Guangzhou Daily News (all-media reporter Wang Chuhan trainee reporter Zhou Mi) On August 31, the first batch of 3 affordable rental housing public offering REITs (hereinafter referred to as "guaranteed rental housing REITs") were listed and traded on the Shanghai Stock Exchange, all achieving 30% of the total. The daily limit continues the previous market heat.
At present, 17 publicly offered REITs have been listed in the market.
"The China Securities Regulatory Commission proposed at the mid-year regulatory work meeting to steadily expand the scope of REITs pilot projects and accelerate the normalization of issuance." Li Chao, vice chairman of the China Securities Regulatory Commission, said that recently, the China Securities Regulatory Commission and the National Development and Reform Commission and other relevant parties have proposed the basis for accelerated progress. Ten measures to normalize the issuance of facility REITs.
The issuance scales of Hongtu Shenzhen Anju REIT, CICC Xiamen Anju REIT, and Huaxia Beijing Affordable Housing REIT are 1.242 billion yuan, 1.3 billion yuan, and 1.255 billion yuan respectively.
According to the information in the prospectus, Hongtu Shenzhen Rental Housing REIT and CICC Xiamen Rental Housing REIT are expected to achieve cash distribution yields of 4.24% and 4.33%, respectively, in 2022.
China AMC Beijing Rental Housing REIT expects its cash distribution rate to be approximately 4.30% (annualized) for the period from September 1, 2022 to December 31, 2022.
According to a research report released by CITIC Securities on August 13, the first batch of affordable rental housing REITs projects are concentrated in employment-intensive areas in first- and second-tier cities and have high investment value.
Therefore, the 3 rental housing REITs have been highly sought after by institutional investors and public investors during the inquiry and public offering stages.
On May 19 this year, the General Office of the State Council issued the "Opinions on Further Revitalizing Stock Assets and Expanding Effective Investment".
On May 27, the China Securities Regulatory Commission and the National Development and Reform Commission jointly issued the "Notice on Regulating the Pilot Program of Real Estate Investment Trusts (REITs) in the Infrastructure Field of Affordable Rental Housing Issues".
Since the first batch of pilot projects were launched in June 2021, a total of 19 publicly offered REITs have been approved for listing, with assets covering toll roads, industrial parks, sewage treatment, warehousing and logistics, clean energy and affordable rental housing.
The listed projects have raised more than 58 billion yuan, with a total market value of 65 billion yuan. The recovered funds have driven a total investment of nearly 300 billion yuan in new projects.